M&A M&A
Dr Reddy's Labs sells 9 cosmetic derma brands to Eris Lifesciences for Rs. 275-Cr
Source Mint (opens in a new tab)BSE Announcement, (opens in a new tab)
Hyderabad-headquartered Dr. Reddy's Laboratories has sold nine cosmetic dermatology brands to fellow publicly listed and Ahmedabad-based Eris Lifesciences for INR 275 crore. The divested portfolio posted a revenue of INR 61.6 crore in FY22.
In January, Eris had acquired nine brands of Glenmark Pharma's dermatology portfolio for INR 340 crore to deepen its presence in the anti-fungal and anti-psoriasis segments.